Duties of the Lender Sample Clauses
The "Duties of the Lender" clause defines the specific responsibilities and obligations that the lender must fulfill under the agreement. Typically, this includes providing the agreed-upon funds to the borrower, ensuring timely disbursement, and possibly maintaining accurate records of the loan. In some cases, the lender may also be required to notify the borrower of important changes or comply with relevant laws and regulations. This clause ensures that the lender's role is clearly outlined, helping to prevent misunderstandings and disputes regarding the lender's performance of their obligations.
Duties of the Lender. Any action taken or omitted to be -------------------- taken by the Lender under or in connection with any Letter of Credit, if taken or omitted in the absence of willful misconduct or recklessness, shall not put the Lender under any resulting liability to any Borrower. In determining whether to pay under any Letter of Credit, the Lender shall have no obligation relative to the Borrowers other than to confirm that any documents required to have been delivered under such Letter of Credit appear to comply on their face, with the requirements of such Letter of Credit. The Lender shall notify the Borrower upon the occurrence of a draw under any Letter of Credit.
Duties of the Lender. The powers conferred on the Lender hereunder are solely to protect its interests in the Collateral and shall not impose on it any duty to exercise such powers. Except as provided in Section 9-207 of the Code, the Lender shall have no duty with respect to the Collateral or any responsibility for taking any necessary steps to preserve rights against any Persons with respect to any Collateral.
Duties of the Lender. Any action taken or omitted to be taken by the Lender in connection with any Letter of Credit, if taken or omitted in the absence of willful misconduct or gross negligence, shall not put the Lender under any resulting liability to any Loan Party. In determining whether to pay under any Letter of Credit, the Lender shall have no obligation relative to any Loan Party, other than to confirm that any documents required to have been delivered under such Letter of Credit appear to comply on their face with the requirements of such Letter of Credit.
Duties of the Lender. It is expressly understood and agreed that the obligations of the Lender with respect to the Collateral, interests therein and the disposition thereof, and otherwise under this Agreement, are only those expressly set forth in the PPSA and this Agreement. In particular, beyond the use of reasonable care of any Collateral in the custody of the Lender, the Lender shall not have any duty as to the Collateral, as to any Income and Proceeds therefrom, or as to the preservation of rights against prior parties or of any other rights pertaining thereto. The exercise by the Lender of the same degree of care toward the Collateral in its custody, if any, as it exercises toward its own similar property shall constitute reasonable care of such Collateral and the Lender shall not be held to a higher standard of care under this Agreement.
Duties of the Lender. It is expressly understood and agreed that the obligations of the Lender with respect to the Collateral, interests therein and the disposition thereof, and otherwise under this Agreement, are only those expressly set forth in the PPSA, this Agreement and any other Applicable Law. In particular, beyond the use of reasonable care of any Collateral in the custody of the Lender, the Lender shall not have any duty as to the Collateral, as to any Income and Proceeds therefrom, or as to the preservation of rights against prior parties or of any other rights pertaining thereto. The exercise by the Lender of the same degree of care toward the Collateral in its custody, if any, as it exercises toward its own similar property shall constitute reasonable care of such Collateral and the Lender shall not be held to a higher standard of care under this Agreement.
Duties of the Lender